NEW YORK, Jan. 17 (Xinhua) -- Bill & Melinda Gates Foundation will spend as much as 8.3 billion U.S. dollars in 2023, 15 percent higher from that in 2022, according to an announcement by the foundation on Tuesday.

As the largest annual budget in the foundation's history, the expenditure plan is "a response to multiple crises that threaten to stall or reverse global progress on the Sustainable Development Goals since the start of the COVID-19 pandemic," said the foundation. The funding covers war, economic turmoil, and climate-related disasters, with large decreases in vaccinations for preventable infectious diseases.

The latest budget puts the foundation on track to meet its commitment to reach an annual payout of 9 billion U.S. dollars by 2026, which was announced in July 2022.

"This is the toughest period for global health and development in recent memory, but in some ways, it's also the reason we exist," said Bill & Melinda Gates Foundation CEO Mark Suzman.

Suzman also noted that the foundation doesn't set the world's agenda but only responds to it i.e. the United Nations' Sustainable Development Goals.

"Our role is to ensure that decision-makers - be they school board members or cassava growers or health ministers - have the best possible options to choose from and the best possible data to inform their decisions," Suzman said.

"And where there's a solution that can improve livelihoods and save lives, we'll advocate persistently for it," he added.

Based in Seattle of the U.S. state of Washington, the foundation is led by Suzman under the direction of co-chairs Bill Gates and Melinda French Gates and the board of trustees.